The FIRE Guide series is a great place to start if you are just discovering Financial Independence, Retire Early (“FIRE”) or early in your journey. We share basic concepts and resources to help you get started. Additionally, we’re sharing our own calculations and experiences along the journey. Whether you’re looking to retire early, or just obtain financial independence to be “work optional”, I promise you the journey is well worth it!
Do you ever think about the real cost of the things you buy before you make a purchase? Your true cost is more than just the dollar amount on the price tag. And no, this isn’t the point where I tell you to stop buying those precious daily lattes. You do you. Besides, I already…
Despite the provocative title, I’m actually a big believer in the FIRE movement. Pursuing financial independence and early retirement can help you achieve a happier life. That said, if you start this journey believing that happiness is waiting on the other side of that finish line, you’re likely to be disappointed. The FIRE movement won’t…
Many early retirees don’t include social security income in their retirement plans. Why? Probably because the 4% rule doesn’t use it. It’s also not available until traditional retirement age. Even so, social security income will cover a portion of your expenses in the later years. And the benefits can be significant. There may be a…
I’ve heard rumblings around the personal finance and FIRE community that the “4 percent rule,” a popular early retirement withdrawal strategy, might be outdated for a while now. But has the day finally come? Is the 4 percent rule officially dead!? With Inflation at levels we haven’t seen since the 1990’s, and future market returns…
So, you’re cruising down the path to financial independence and saving as much money as you can for early retirement. Congrats! Like most people, you may have a large portion of these savings in retirement accounts, such as an IRA or 401k. These plans have great tax benefits, but they also have age restrictions and penalties…
Have you recently stumbled upon the FIRE movement? Contemplating if this path could be for you? If so, you may be wondering how much money you really need to retire early. In this post, I’ll show you how to determine your Financial Independence (“FI”) number, as well as share ours. Additionally, as promised in Part…
A younger family member recently asked for some financial advice. This is not unusual. Mr. RFL & I are both accountants, after all. During the call, we shared that I had recently started a personal finance blog to document our journey to financial independence and early retirement (“FI/RE” or “FIRE”). The response? Oh yeah, I’ve…